You’ve seen the scenario many times before….William participated in his employer’s ERISA 401(k) Plan and designated his wife Adele as his beneficiary. When they divorced eight years later, Adele agreed to waive any and all rights in the Plan. William died nine months later, never having changed his beneficiary designation.

By Linda Morra
What are your options when you’re worried that your employer is failing, and if it fails, the government will take over your pension plan, and if that happens, your pension will be cut back significantly, and you’ll be stuck with a smaller monthly benefit instead of a large lump sum distribution?

President Obama’s Fiscal Year 2014 budget contains a provision which proposes to eliminate the Internal Revenue Code Section 404(k) deduction, which allows a deduction for dividends paid on certain employer securities. The ESOP Association expressed disappointment with this proposal.